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will how will softbank help its competitive dynamic? >> well, i think first and foremost it would help from a competitive standpoint but i will stress this, that in the past sprint as you mentioned has had some difficulties with regard to some of the integrations they've gone through. recently though dan and the team have done a very good job with network vision and also starting to shut down the network, planning to get out of the network by mid 2013. so before any of this came to be, we had said that we thought sprint would be worth about 6.5 dollars that is before softbank would come in and potentially take 70% of the company as an investment for nearly $13 --13 billion as you mentioned. and sprint right now has over 21 billion in debt, they have 14.5 billion of net debt. so that type of investment would free up their balance sheet to do things such as increase their holdings. and while sprint said they have ample spectrum since the beginning of 2014 as i'm sure you and everybody else understands, spectrum is a scarce commodity at th
will how will softbank help its competitive dynamic? >> well, i think first and foremost it would help from a competitive standpoint but i will stress this, that in the past sprint as you mentioned has had some difficulties with regard to some of the integrations they've gone through. recently though dan and the team have done a very good job with network vision and also starting to shut down the network, planning to get out of the network by mid 2013. so before any of this came to be, we...
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softbank is considering acquiring sprint nextel. sprint nextel has more than 56 million subscribers. negotiations are to acquire more than two-thirds of the company's shares. it's expected to reach $12.8 billion. both firms are providers for apple's iphone and they both use a high speed wireless communication protocol called long term evolution. the stronger yen is believed to be a factor in soft bank's decision in acquiring sprint nextel. they are hoping to vastly expand their network and customer base in the united states where the market is showing considerable growth. if successful the deal would lead to the creation of a te telecommunications with more than 19 million subscribers. >>> u.s. markets ended lower dragged down by lackluster earning reports. the dow jones extended its losing streak to four days. this is the lowest closing since september 11. we go to ramin who is at the tokyo stock exchange. what can you tell us? >> good morning. following the slight losses that we saw in new york we got to keep track of the tex sect
softbank is considering acquiring sprint nextel. sprint nextel has more than 56 million subscribers. negotiations are to acquire more than two-thirds of the company's shares. it's expected to reach $12.8 billion. both firms are providers for apple's iphone and they both use a high speed wireless communication protocol called long term evolution. the stronger yen is believed to be a factor in soft bank's decision in acquiring sprint nextel. they are hoping to vastly expand their network and...
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. >>> we begin with breaking news on sprint and softbank. david faber's been working this all morning. >> yeah. it's been like the old days, those phones lighting up. we got a lot of details to share but also a lot of questions. we can tell you for the last few months softbank has been in negotiations to buy a majority position in telecom provider sprint. now originally those talks also included my sources tell me t-mobile. in fact, would have involved a deal in which t-mobile and sprint got together, something that has been discussed many times in the past. and then softbank came in with a very large equity check buying down significantly what was deutsche telecom's stake in the overall and perhaps buying even more from the sprint shoulder. that deal didn't happen. as we all know, in fact t-mobile has moved on, has a deal to acquire pcs. by the way, while there's been a great deal of speculation that sprint might try an jump that deal, i think we can put that aside for the moment because that's not likely to happen. pcs shares are down. the
. >>> we begin with breaking news on sprint and softbank. david faber's been working this all morning. >> yeah. it's been like the old days, those phones lighting up. we got a lot of details to share but also a lot of questions. we can tell you for the last few months softbank has been in negotiations to buy a majority position in telecom provider sprint. now originally those talks also included my sources tell me t-mobile. in fact, would have involved a deal in which t-mobile...
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japanese bank, softbank, mobile carriers, softbank would be in advance talks to buy sprint and decided and we're seeing softbank buy majority stake in prince. sprint confirmed they're in talks. back to you. ashley: thank you, nicole. tracy: nicole, we'll ask you who the hottest bond girl is when we come back to you. i will ask you too, hottest bond girl. ashley: all right. tracy: cyber attacks on u.s. financial sector showing no signs of stopping. regions financial confirms it is the latest victim of a cyberattack. adam shapiro has been following the story around the clock. adam, what do you got. >> first you should remember the group responsible for these attacks carry them out only roughly eight hours this would have started roughly 10:00 a.m. new york time. so roughly four hours to go. here is what reasons on is telling us. we're experiencing internet service disruption that is intermittently impacting our customers ability to access our website or use our online banking service. we are working quickly to resolve this issue and regret any inconvenience customers may be experiencing.
japanese bank, softbank, mobile carriers, softbank would be in advance talks to buy sprint and decided and we're seeing softbank buy majority stake in prince. sprint confirmed they're in talks. back to you. ashley: thank you, nicole. tracy: nicole, we'll ask you who the hottest bond girl is when we come back to you. i will ask you too, hottest bond girl. ashley: all right. tracy: cyber attacks on u.s. financial sector showing no signs of stopping. regions financial confirms it is the latest...
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check out squares of sprint nextel, japan softbank talking about a two-thirds stake of sprint. nhk reported the original story and "the journal" says those talks are "advanced." it would be the largest foreign stake purchased by a japanese company on record and the stock is up 12% in the premarket. also a busy day for ipos, five are set for today, realogy holdings, intercept and kythera and shutterstock priced its offering above its expected range and garrison capital is expected to go public but not yet priced. >> it's a one shot on you, becky. >> i thought you had something you wanted to say. >> no, got nothing. >>> the street eagerly looking ahead to jpmorgan and wells fargo, those companies out with earnings on friday and joining us on set with a preview is betsy graseck, morgan stanley's large cap analyst. what are you looking for? >> looking to understand how good the fixed income has been, how good housing has been and all the various ways it's impacting them, and then on the other side of the equation is nim, what's the forward look there. i this i it will be fine this
check out squares of sprint nextel, japan softbank talking about a two-thirds stake of sprint. nhk reported the original story and "the journal" says those talks are "advanced." it would be the largest foreign stake purchased by a japanese company on record and the stock is up 12% in the premarket. also a busy day for ipos, five are set for today, realogy holdings, intercept and kythera and shutterstock priced its offering above its expected range and garrison capital is...
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Oct 12, 2012
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something that softbank wants. so you could see a two-tier or two-step process in which softbank buys 19.9% of sprint primary shares and sprint goes out, uses that money to bring in what it doesn't already own of cle clearwire. and then you see the final tender offer under which we get the entire thing. we also have pcs, and i'll get to -- yesterday moved sharply lower and then was up for some reason on these strange rumors that softbank was interested in pcs. i can tell you at this point, there is no interest in pcs in terms of anything happening now. down the road is it possible that a softbank/sprint combination would seek to acquire a mobile combination, yes, it's possible if the antitrust regulators would allow it to occur. but nothing going on there as of now. it does not look at all like sprint has any interest in trying to jump that current deal. and don't forget, t-mobile was a part of the sprint/softbank talks when they first occurred this summer. >> surely there has to be someone else who wants it. the c
something that softbank wants. so you could see a two-tier or two-step process in which softbank buys 19.9% of sprint primary shares and sprint goes out, uses that money to bring in what it doesn't already own of cle clearwire. and then you see the final tender offer under which we get the entire thing. we also have pcs, and i'll get to -- yesterday moved sharply lower and then was up for some reason on these strange rumors that softbank was interested in pcs. i can tell you at this point,...
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and the japanese telecom softbank reportedly in talks to buy majority stake in sprint. why sprint is up. watch out groupon, ebay is testing an on-line market faced for deals with local services and boosting the rv maker winnebago's profits and ebay is up and let's see, winnebago is higher. las vegas developer steve wynn slams president obama for being anti-business and he'll be damned to let the president tell him what to do. is that how the business community feels as a whole. imus: we'll ask one of our foremost authorities on small businesses, on the subject coming up next. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >> announcer: meet jill. she tho
and the japanese telecom softbank reportedly in talks to buy majority stake in sprint. why sprint is up. watch out groupon, ebay is testing an on-line market faced for deals with local services and boosting the rv maker winnebago's profits and ebay is up and let's see, winnebago is higher. las vegas developer steve wynn slams president obama for being anti-business and he'll be damned to let the president tell him what to do. is that how the business community feels as a whole. imus: we'll ask...
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they are in fact in discussion with softbank of japan. dagen: thank you. connell: we do have some more noise, as they say, around the jobs report. if you cannot count on these jobs numbers, what can investors count on? we will talk about that. dagen: we will continue to track the run-up in sprint. connell: new legislation could force your cell phone provider to stop sharing info with third parties like the u.s. government. you think the judge is for this. well, we do not put any words and the judges mouth. he will be here to speak for himself in studio. oil, backup to 92 and changed today. that is a big gain. we will be right back. ♪ dagen: welcome back, everybody. quarter past the hour. stocks now and every 15 minutes. breaking news on apple and samsung. nicole: this is a big one that we will continue to follow. u.s. appeals court actually reversing that injunction against samsung galaxy nexus smart phone in the patent fight with apple. as the news roque, the volume spiked, it sold off. this is not great news here for apple. apple, by the way, has been
they are in fact in discussion with softbank of japan. dagen: thank you. connell: we do have some more noise, as they say, around the jobs report. if you cannot count on these jobs numbers, what can investors count on? we will talk about that. dagen: we will continue to track the run-up in sprint. connell: new legislation could force your cell phone provider to stop sharing info with third parties like the u.s. government. you think the judge is for this. well, we do not put any words and the...
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softbank has been looking how you to break in to the u.s. market for months. and defense secretary leon panetta says the u.s. military could act preemptively if it detects an imminent threat of cyber attack. he urged stronger action to bolster america's defenses against such plots. officials say this was the first major policy speech on cyber security by any defense secretary. and we've been waiting. the nobel peace prize was awarded today to you, the -- no, that was "time" magazine. >> total cop out. >> a cheap mirror on the cover. this time it went to the european union. the entire union. >> who gets the money? >> i don't know. they'll use to pay off some of the unlg debts that they have. the committee citing the eu's historic role in uniting the continent saying the award was meant as a morale boost for the bloc as it struggles to resolve its debt crisis. i have talked about the peace prize being both political and sort of having jumped the shark years ago. arafat and -- >> there were three of them. >> the president didn't especially want it. he said, pleas
softbank has been looking how you to break in to the u.s. market for months. and defense secretary leon panetta says the u.s. military could act preemptively if it detects an imminent threat of cyber attack. he urged stronger action to bolster america's defenses against such plots. officials say this was the first major policy speech on cyber security by any defense secretary. and we've been waiting. the nobel peace prize was awarded today to you, the -- no, that was "time" magazine....
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sprint shares surged almost 15% after the mobile carrier said it was in talks with japan's softbank. those negotiations could lead to the japanese tech giant taking a major e in america's third largest cell company. on wall street, stocks struggled to gain ground-- the dow fell 18 points, the nasdaq lost two points, but the s&p rose a fraction. advanced micro devices tonight cutting its third-quarter revenue estimates by 10%. it blames the sluggish global economy for weak sales across all of its product lines. tomorrow, our friday "market monitor" guest says 2013 will be a year of revitalization for the u.s. and emerging markets. he's jim paulsen of wells capital management. for more financial news, tune in to nbr weeknights on this public television station.
sprint shares surged almost 15% after the mobile carrier said it was in talks with japan's softbank. those negotiations could lead to the japanese tech giant taking a major e in america's third largest cell company. on wall street, stocks struggled to gain ground-- the dow fell 18 points, the nasdaq lost two points, but the s&p rose a fraction. advanced micro devices tonight cutting its third-quarter revenue estimates by 10%. it blames the sluggish global economy for weak sales across all...